BTC/USD 4-hour chart: Full analysis of cryptocurrency trends ✨
Dear friends 👋, let’s look at the 4-hour chart of BTC/USD. Its current price has reached US$97,522. Overall, it clearly shows a super significant upward trend, and it is very close to the recent high price. Very.
Bitcoin's rise during this period is simply not too strong. The price has been rising upwards from its low point, just like riding a rocket, and it has already broken through the previous resistance range.
The current price is almost close to the super-critical psychological price of $97,500. If it can successfully break through, it may open up a broader upward trend.
Let’s talk about the trading volume. As the price keeps rising, the trading volume also increases, which shows that the enthusiasm for buying in the market is quite high.
The fast and slow lines have been diverging outwards above the zero axis, and the upward momentum is very strong. The red histogram is also getting bigger and bigger, and the power of bulls has been slowly getting stronger.
However, the current RSI indicator is 72.57, which is slightly higher than the overbought area (70).
Speaking of support, it’s probably around $95,000.
If there is a price correction or something, this position will most likely become a short-term support point.
The resistance level is the super important $100,000 (psychological mark). If the price can break through this level, it is likely to trigger a larger round of rise.
Trend forecast is here:
The probability of continuing to rise is 60% (after all, the trading volume is also there to cooperate, and the possibility of breaking through 100,000 US dollars is still quite high).
The possibility of sideways trading is 30% (that is, the price fluctuates between $95,000 and $100,000 for a short period of time)
The probability of a downward correction is only 10% (but you have to pay close attention to changes in trading volume and support levels)
